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The most helpful critical review

66 of 69 people found the following review helpful

5.0 out of 5 starsThe Right Book at the Right Time
I'm a personal finance author ("The Friendly Banker"). I've never met Dave and I know him only as most other Canadians do, as the author of an iconic masterpiece.

While I love to write, to sit down and actually read a book is a chore for me. Few books do a good enough job at capturing my interest to get me past the first few pages, let alone the first chapter...

3.0 out of 5 starsEntertaining and basic
This is a fantastic book for the basics and person who is not good at handling their money. If you are an expert or even understand some basic's of finance, this book may bore you.

If you have a family member or friend that isn't good with money or just needs a good lesson about money management. This is a book I highly recommend. I agree with most of what the...

I'm a personal finance author ("The Friendly Banker"). I've never met Dave and I know him only as most other Canadians do, as the author of an iconic masterpiece.

While I love to write, to sit down and actually read a book is a chore for me. Few books do a good enough job at capturing my interest to get me past the first few pages, let alone the first chapter. I`m a lousy reader. Yet, I read this book, cover to cover, in three nights with the television on and the sound muted, a miracle for me. I even missed a good portion of Monday Night Football. Need I say more? Well, I`m going to anyway.

The "The Wealthy Barber Returns" is written in a relaxed, humorous, conversational style that I found very appealing. It begins with some sage advice on the pitfalls of over-borrowing, describing the forces that draw us into debt traps and the basic human weaknesses that drive us to keep up with others in the quest to accumulate things that, in the end, are of little enduring value. I agree that the false sense of security provided by an abundance of available credit forms a dangerous mindset that can lead to disaster, especially when that credit line is represented by a mortgage on the home. For most people the concept of a Home Equity Line of Credit is too much of a temptation, leading to the illusion of short term gain followed by the reality of long term pain. Dave even takes a couple of refreshing swings at the banks for their tendency to want to lend us up to our rooftops. He recounts one story where a woman he sent to the bank to get a very modest secured line of credit was immediately up sold to the max despite her history of debt accumulation. I'm sorry to report that this is not uncommon. I was a consumer lender for 25 years and it was my job to maximize profit within a consumer loan portfolio. I was paid to lend as much as possible at the highest possible rate without causing losses and not to share that philosophy with my customers. My paycheque depended on it.

Once the notion that we must curtail spending in order to have any hope of saving is successfully driven home, Dave very effectively shows us how we can best turn that 10-15% of gross income (or more if we've started late) into a comfortable lifestyle in retirement. He delivers investment advice in a manner that is easy for most anyone to understand and his command of the subject truly inspires confidence.

Throughout this book I was struck by its honesty. Time and time again I was stopped in my tracks by things such as Dave`s description of his own lifestyle as well as his many insights into The Wealthy Barber and some of the experiences that came his way as a result of it. It takes an honest author to take a look at his own work years later and admit to a change of heart about certain things, especially when that work impacted so positively and so significantly on more than two million Canadians.

We live in difficult times. In my view, Dave has always expressed a deep and abiding concern about the financial well being of Canadians and the consequences that could follow if we do not change our habits. Thus, he`s given us another book, just at the right time, that will help us all reflect on the changes we need to make to secure a decent financial future.

Jim Rohn once said that we must all suffer one of two pains; the pain of discipline or the pain of regret. I prefer the former. It's a choice. What's your choice? Whatever it is it should be a conscious one and I`m confident that "The Wealthy Barber Returns" will help you make it.

I bought The Wealthy Barber Returns thinking it might be an update to The Wealthy Barber. My finances have been in need of some updating and I liked the novel format of Dave's first book. It is actually a completely different book. I loved this one even more than the first. I read it in 2 nights-I didn't want to set it down. A business book-really, I didn't want to set it down. It has made me think about my spending in ways that have made a complete difference in my life. So many of David's points come back to me when I am out shopping or about to make a purchase. I can't believe how much I have learned from this book. I finally understand index funds and TFSA's. My husband is thrilled! I am telling everyone I know to read this book. Best money I have ever spent.

I read the original Wealth Barber just prior to getting into the financial advisory business back in '92 and couldn't help wondering how much value I could offer to clients if they just bought the book and followed Roy's advice on their own. Turns out even people who read it still need someone to save them from themselves! Chilton's new book, in sync with our over spending, under saving times, provides a reminder to all of us that maybe our grandparents were right - the best things in life...aren't things! Loved the section on index investing - it mirrors my own belief (backed by experience and research) that most investors would be better off tossing out their high priced mutual funds and just buy the whole market. My sister admitted that she finally understands what indexing is after reading this. Once again Chilton hits a home run with his easy-to-read style broken up into many entertaining chapters.

I got this book for Christmas and thoroughly enjoyed it. I like the way Chilton distills what could be complex financial theories and products into advice that's down-to-earth and highly readable.I read The Wealthy Barber when it first came out and liked it very much, too, but I frankly prefer this new book. It's completely different! The chapters are quick, concise and the notions are well illustrated through "real life" people and examples of what to do, or more often, what not to do. I don't often relate to, let alone laugh with, financial authors, but Chilton hits the mark again with The Wealthy Barber Returns. I highly recommend it for all age groups. Young adults just starting out will benefit from his overall philosophy and older adults will glean new insights into how to manage their money and investments. I bet a lot of financial planners and bankers are uncomfortable with this book -- it tells it like it is/they are! -- but for anyone who wants to know how to better manage their money and savings and plan for retirement (or retire more comfortably), this is a GREAT book!

I'm 22 and like a lot of my friends in business at WLU, I got this book for Christmas. It seems our parents love the wealthy barber. I've seen him speak here before and I thought he was funny. He is funny in the new book, too, which surprised me. He did manage to keep me reading. I did learn a lot that should help me in my future, I can see that. I liked that he brought in a lot of his personal stories like about the cookbook sisters, which I found inspiring. If the biggest lesson I learned was perseverance and believing in dreams, my parents say they're happy with that. I didn't want to read a financial planning book but now I have and now they say I will be able to take care of them in their retirement. We'll see mom and dad. But OK, it was a good gift!

Well, normally I'd rate reading a book about personal finance up there with cleaning out the fridge in terms of excitement and entertainment value. Enter the Wealthy Barber Returns! I certainly did not expect to laugh while having my financial foibles wittily and cleverly illuminated. David Chilton's common sense advice and unique sense of humour may just be enough to motivate me to change my ways...and ultimately end up laughing all the way to the bank, for the right reasons. Bank on this book. A must read. Smart, funny and practical. He shows how being more conservative with spending doesn't make ya boring. Back to the fridge now....argghhh.

This is the first time I have ever taken the time to share my opinion about a book/product. It's also the first time I have ever read a book about Finances/investments in less than three days. I really enjoyed the information and, it was both easy and interesting to read - except the chapter on "bid price" - had to read that a few times but now I get it! BUT...what I really wanted to share is the following...I was actually able to use the information in this book to make some headway with my wife regarding "our" (her) spending habits and, the use of our bank credit!! We didn't argue...I just asked her if she would read just two chapters - we were also on vacation at the time - and, both of us knew how we paid for the vacation. Which we enjoyed. Could we afford it? - not really. We now know we were on the wrong path - Thank you Wealthy Barber! BTW, we have also used this book to have a follow-up discussion about our retirement savings and, the reality of our home equity.

I bought this book a few weeks ago and devoured it in less than 2 days. I am a big fan of the original Wealthy Barber and have purchased copies for a number of people I think need to read it. This book will become a companion to those purchases. Although not the same story format as the original book, the flow and style of The Wealthy Barber Returns is smooth and easy to read. Unlike a lot of financial literature this is easy to digest and will make you rethink how you currently do things.

Of particular interest to me are the chapters on ETFs. This is a strategy I have been flipping over in my mind for quite some time and Chilton makes them so easy to understand.

I love this book! Everyone else I know who has read it does too. I wonder if the negative reviews here are from financial planners who sell the high-cost products the author warns against. David was outspoken and clearly he ruffled some feathers! I thought the lessons were actually very deep - you don't see financial-planning books (except for this one) recognize the importance of human nature and psychology. I learned lots more: his chapters on RRSPs and TFSAs brought up some great comparisons and demonstrated how to use them effectively; a chapter on index funds does a fantastic job to help me better understand them; the use of poignant examples makes it clear why we can't pick winning funds, and tons more. An awesome read that will pay me back over and over and over again!

If someone told me that one of my favourite books of 2011 would be a financial awareness book I would have laughed. Personal finance is rarely synonymous with entertainment! But this book informed AND entertained me. David Chilton wrapped important financial wisdom in witty, engaging stories. I saw myself and my friends throughout the book; so much so that I bought over a dozen copies for Christmas gifts.Who knows where the ripple effect of Dave's teaching will end. But I do know it is helping me live in financial comfort and happiness now and in my retirment years. I highly recommend you read this book and follow Dave's priceless advice. You, your family and our society will be much better off!